Tinaconcept
Member
Book keeping can be defined as the act of planning, filing, documenting, reporting recording of the day to day activities of the business.
There are reasons why record should be kept in a business, these includes:
Taking stocks of available goods thereby helping you know the finished goods.
Book keeping will help the business owner take record of his or her customers details. This customers information will help in terms of returns or reaching out to customers.
The act of giving out receipt after payments is to keep record therefore book keeping.
Book keeping will also help the business owner know his or debtors and have their details in terms of collection.
To know the total amount of purchases and sales, total amount of cash received and most especially records of expenses.
With all this isn't book keeping mandatory for the growth of a business?
There are reasons why record should be kept in a business, these includes:
Taking stocks of available goods thereby helping you know the finished goods.
Book keeping will help the business owner take record of his or her customers details. This customers information will help in terms of returns or reaching out to customers.
The act of giving out receipt after payments is to keep record therefore book keeping.
Book keeping will also help the business owner know his or debtors and have their details in terms of collection.
To know the total amount of purchases and sales, total amount of cash received and most especially records of expenses.
With all this isn't book keeping mandatory for the growth of a business?